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South Korea Completes 14th Red Sea Crude Shipment After Iran War Disrupts Hormuz Route
South Korea's Ministry of Oceans and Fisheries said a tanker loaded at Yanbu Port transited the Red Sea on July 17 and heads toward Asia. The voyage is the 14th such shipment since the Iran war cut most traffic through the Strait of Hormuz in March.
Jul 17, 7:30 AM·1m read1 source
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South Korea's Ministry of Oceans and Fisheries announced on July 17 that a South Korean oil tanker has successfully transited the Red Sea and is en route to Asia. The shipment marks the 14th crude oil delivery to use the route since the Iran war disrupted most traffic through the Strait of Hormuz in early March.
The tanker loaded its cargo at Saudi Arabia's Yanbu Port on the Red Sea before passing through the waterway toward South Korea.
com reported that before the conflict began, South Korea depended on cargoes transited via the Strait of Hormuz for 61 percent of its crude oil imports and 54 percent of its naphtha imports. The ministry stated that using the Red Sea route remains the most realistic option for the time being because the Strait of Hormuz has yet to stabilize.
The statement was carried by South Korea's Yonhap news agency.
OilPrice.com reported that Iran-aligned Houthis in Yemen are waiting for approval from Iran's Islamic Revolutionary Guard Corps to close the Bab el-Mandeb Strait, which could affect exports via the Red Sea.
